and, number two, bond holders of u.s. debt. the u.s. will not default on its sovereign debt, but there is a huge interest rate risk, and if you are a foreign investor, there's a huge currency risk in investing in. all the new debt in the last two years has been purchased by the federal reserve, up 70% of that, we are self-dealing in our and debt. we did not have market rates. we have artificially low rates. china, japan, opec nations, because they have positive trade values, but if they buy a 30- year bond? no, they are buying short term, because we have historically low interest rates, the lowest maturity in interest -- in history, and when the interest rates go up, for everyone% increase, it is $160 billion a year in new spending for which we get shinola -- nothing.